Berkshire Home Broker to Take Wells Fargo’s Stake in Venture

July 25 (Bloomberg) -- HomeServices of America Inc., the real estate brokerage unit of Warren Buffett’s Berkshire Hathaway Inc., agreed to take over Wells Fargo & Co.’s stake in a mortgage-lending business they own together.

HomeServices Lending LLC will become a wholly owned subsidiary of HomeServices of America by the end of 2014, the unit of Omaha, Nebraska-based Berkshire said today in a statement that didn’t disclose terms.

To contact the reporters on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net; Dakin Campbell in New York at dcampbell27@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net